Sentences with phrase «full value of their insurance policy»

Not exact matches

If you die during the grace period, your beneficiary will receive the full value of the death proceeds of your life insurance policy minus any premium that is owed to your life insurance company.

The benefit of combining the two insurances into one policy is you get life insurance death benefit coverage, help with your long - term care services, cash value growth that can be accessed via policy loans, with full cash surrender value plus return of premium if necessary.

Trusted Choice, a network of independent insurance agents, emphasizes that you should consider insurance beyond what routinely is covered in a policy if your home is full of expensive electronics, artwork, collectibles or other high - value items.

The downside is that if your cash value runs out, you can get stuck paying the full cost of insurance and there's no surrender value to the policy.

However, the rule does not apply to the sale of a life insurance policy to an ILIT for full and adequate value.

In many of these cases, a term life insurance policy is often the most inexpensive choice and the full face value of the policy pays out on the policy holder's death.

You might provide a basic group term policy to all of your full - time employees and / or fund a bonus plan for key executives with cash - value life insurance.

The selling policyowner receives an upfront cash payment in exchange for transferring ownership of the life insurance policy — typically more than any existing cash value but less than the policy's full death benefit — and the investor as the new owner then continues to make the ongoing / annual premium payments.

Conversion insurance can help motorists tap into the full value of their policy.

Similarly, if the responsible driver has a minimal liability insurance policy and it is not enough to cover the full value of the injury, uninsured / underinsured coverage may be able to make up the difference.

Unlike traditional mortgage life insurance whose value decreases as you pay down your mortgage balance, term life insurance plans pay the full original face value of your policy to your beneficiary.

Unlike traditional mortgage life insurance whose value decreases as you pay down your mortgage balance, the CoverMe Term Life plan pays the full original face value of your policy to your beneficiary.

Generally these can be taken under one of three possible non-forfeiture options: (1) surrender for full cash value; (2) use of the cash value to purchase reduced paid - up life insurance; and (3) use of the cash value to purchase extended term insurance in the full face amount of the original policy for as long as the cash value will pay net premiums.

The reason is because the policy accrues no cash value (except in the case of Return of Premium Term Life Insurance, where you can get a full refund for all the premiums you've paid at the end of the policy period).

Premium Price Differences Needless to say, the insurance companies aren't stupid — by offering you a policy that guarantees they'll pay you for the full value of what it takes to replace your car or home, they know they're putting themselves in a position to pay out substantially more than they would by offering actual cash value.

Because the costs are paid in full and upfront, the cash value can grow quickly and your insurance coverage is entirely paid by the account value of the policy which grows if the underlying investment earnings are positive rather than with annual premiums.

States have guaranty funds in order to protect citizens if their insurance company goes out of business, but they may not cover the full face value of the policy.

A majority of policies waive the exclusion for pre-existing conditions, provided you insure to the full value of your prepayments and buy the insurance within a specified period of time after you make your first payment or deposit, typically one to two weeks though sometimes longer on a few policies.

Sometimes, you will find that maintaining a full coverage insurance policy on an older car will cost you more in insurance premiums than the value of the car.

In addition many people, including some life insurance agents don't have a full understanding of how cash value life insurance policies work.

This policy is a supplemental policy on your home, condo or renters insurance policy, but provides the proper amount of coverage, insuring the full value of your engagement ring.

A collector car insurance policy, however, is usually written on an «agreed value» basis, meaning the owner will be paid the full value of a vehicle if it's lost or stolen, Heacock says.

The downside is that if your cash value runs out, you can get stuck paying the full cost of insurance and there's no surrender value to the policy.

The permanence makes the plans more of a risk to the insurance company because we will all probably die sometime between now and age 121, meaning they are guaranteed to have to pay your loved ones the full value of your policy.

Term life insurance doesn't accrue cash value like several other types of life insurance, but with many term policies, beneficiaries do receive the full face amount.

But by using my own cash, and «becoming the bank,» with my high cash value life insurance policies, I was able to buy both properties, in full, and take advantage of deep discounts, and immediate rental income.

Old - fashioned mortgage life insurance delivers a policy that starts with the full value of your mortgage and then declines as your mortgage balance decreases.

Some may like to take full advantage of a policies cash value that will build during the duration of their life, while others may not be ready to purchase such a plan until a situation that necessitates insurance arises.

As noted earlier, when a life insurance policy is surrendered in full, the gains on the policy are taxable (as ordinary income) to the extent that the cash value exceeds the net premiums (i.e., the cost basis) of the policy.

For example: As you age, the cost of life insurance will increase; and, if you do not pay the full amount of the premiums you owe (to cover the cost of increase), an insurer will reconcile the difference by taking money from the cash value you have in your policy — the cash value of your life insurance will decline — to resolve this divide.

However, the situation is far more problematic in scenarios where the balance of the life insurance policy loan is approaching the cash value, or in the extreme actually equals the total cash value of the policy — the point at which the life insurance company will force the policy to lapse (so the insurance company can ensure full repayment before the loan collateral goes «underwater»).

The selling policyowner receives an upfront cash payment in exchange for transferring ownership of the life insurance policy — typically more than any existing cash value but less than the policy's full death benefit — and the investor as the new owner then continues to make the ongoing / annual premium payments.

Trusted Choice, a network of independent insurance agents, emphasizes that you should consider insurance beyond what routinely is covered in a policy if your home is full of expensive electronics, artwork, collectibles or other high - value items.

Some property insurance policies cover the full replacement cost of an insured item, whereas others may only cover the actual cash value.

The benefit of combining the two insurances into one policy is you get life insurance death benefit coverage, help with your long - term care services, cash value growth that can be accessed via policy loans, with full cash surrender value plus return of premium if necessary.

The valued policy law is a law which compels insurance companies to reimburse valued policy holders for the full value of their loss instead of its actual cash value.

When an insurance company issues a replacement value policy, the policy covers the full replacement cost of the item.

Actual cash value (ACV) policies are the most popular types of Ohio renters insurance sold because they are not as expensive as full coverage versions.

Therefore, if a person totaled a brand new car insured by an insurance policy on a replacement cost valuation, although the insurance company will pay for the full value of the car, they must deduct the amount indicated in the deductible portion of the policy.

A modified endowment contract is a cash value life insurance contract in the United States where the premiums paid have exceeded the amount allowed to keep the full tax treatment of a cash value life insurance policy.

Check your renter's insurance policy to find out whether it pays Actual Cash Value, of Full Replacement Value.

If you're seeking a simplified issue policy, — for which only a medical questionnaire is required, rather than a full exam — a wider range of death benefits are typically offered for simplified issue guaranteed universal policies than for simplified issue whole life insurance (which typically have a maximum face value of around $ 50,000).

If you own tons of valuable items, you'll need your Winchester renters insurance policy to recognize the full value of every single one of them.

That is why it's essential for you to back the full value of your collections with an Alviso renters insurance policy.

When you purchase replacement cost renters insurance coverage, you will be getting a policy that will pay for the full value of any losses that you may have.

A replacement cost Wisconsin renters insurance policy is one that will pay for the full value of any of your losses.

COINSURANCE PROVISION: An insurance provision for property coverage in which the policy holder must carry an amount of insurance that is at least equal to a set percentage of the value of the property in order to receive full payment of a loss.

This type of home insurance policy is specially designed for older homes and includes full replacement value coverage so that hard - to - find materials can be used in the repairs regardless of their cost efficiency.

Similarly, if your policy only pays for actual cash value instead of full replacement cost, the amount you receive in your insurance claim will most likely fall far short of the amount needed to replace the device.

Another possibility that homeowners should be aware of is that your policy could limit the amount the insurance company pays by providing coverage as actual cash value rather than full replacement cost.